Research has shown that 78% of customers are more likely to buy from brands that better personalize the experience1. Given that, personalizing the customer experience continues to be a top strategic priority for brands, as it has clear benefits – benefits we’ve outlined in this article. Moreover, we’ve also covered our top 5 strategies to deliver a one-of-a-kind personalized experience to your customers in this article.
Research has shown that 78% of customers are more likely to buy from brands that better personalize the experience
It is likely that you will need to install one or more Shopify apps to deliver on that customer expectation of a personalized experience. The Polymatiks app, which continuously delivers relevant, optimized, and personalized offers to each customer, is one of these apps.
As you look to invest in different apps, it is important for you to measure the success of your personalization strategies. In this article, we outline some key metrics that you should track:
- Sign-up activity. In order to deliver any kind of a personalized experience, you have to have customers. Consequently, you should see an uptick in the number of customers who sign up for an account with your brand.
- Average number of page views per session. As you personalize the experience, customers should be browsing your online store more, and that behavior should be reflected in the number of page views per session.
- Average time per session. Similarly, you should see an increase in the amount of time that each customer spends on your online store.
- Average purchase value (also known as average order value). As customers’ experience improves, they become more likely to purchase from the brand, thus increasing brand loyalty. This behavior should be reflected in this metric.
- Conversion rate. Conversion rates tell you how well the personalization strategy you’re employing is converting customers into paying ones. For example, Klaviyo’s conversion rate is based on the emails sent. Similarly, the Polymatiks’ app measures personalized offers conversion rate.
Undoubtedly, there are numerous additional metrics that you can use to measure the effectiveness of the personalization strategy you’re employing. However, the five we chose to outline are easy to track. In particular, sign-up activity can easily be tracked through your Shopify admin, while the next 3 can easily be tracked on Google Analytics. The 5th metric is usually provided to you by the app you install.
The true potential of personalization is unlocked with the right metric tracking, as it is a journey to determine what personalization strategies work best for your customers.
1 Retail Customer Experience